logo
Share SHARE
FONT-SIZE Plus   Neg

HP Q1 Profit Down; Backs FY12 Profit View - Quick Facts

Hewlett-Packard Co. (HPQ) reported that its first-quarter net earnings declined to $1.468 billion or $0.73 per share, from $2.605 billion or $1.17 per share in the same quarter last year.

Non-GAAP net earnings decreased to $1.832 billion or $0.92 per share, from $3.030 billion or $1.36 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter declined to $30.04 billion from $32.30 billion in the prior year quarter. Twenty eight analysts had consensus revenue estimate of $30.71 billion for the quarter.

For the second quarter of fiscal 2012, the company estimates non-GAAP earnings per share to be in the range of $0.88 to $0.91 and GAAP earnings per share to be in the range of $0.68 to $0.71. Analysts expect the company to report earnings of $0.95 per share for the second-quarter.

The company still expects full year fiscal 2012 non-GAAP earnings per share of at least $4.00 and GAAP earnings per share of approximately $3.20. Analysts expect the company to report earnings of $4.08 per share for fiscal 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Telefonaktiebolaget LM Ericsson gained around 4 percent in the morning trading in Stockholm after Swedish telecom equipment maker announced Monday the departure of Hans Vestberg as its President and CEO as well as a Board member, with immediate effect. The move follows a sharp decline in its second quarter profit that triggered significant cost cut initiatives. Dutch consumer electronics giant Philips Electronics NV reported Monday significantly higher profit in its second quarter, mainly with Funai arbitration award, despite weak sales. Comparable sales growth was 3 percent with improved HealthTech portfolio, despite weakness in Lighting. The company also maintained its outlook for fiscal 2016. Jeff Bezos, the CEO of Amazon, has overtaken Berkshire Hathaway's founder Warren Buffet to become the third-richest person in the world, according to the Bloomberg Billionaires Index. Bezos is now behind clothing retailer Zara's founder Amancio Ortega, who is now second, and Bill Gates, co-founder...
comments powered by Disqus
Follow RTT